General Atlantic and Asia Opportunities Divest 4.9% Stake in PNB Housing Finance for Rs 1,004 Crore

Foreign investors General Atlantic and Asia Opportunities V (Mauritius) sold a 4.9% stake in PNB Housing Finance for Rs 1,004 crore through NSE open market transactions. The shareholding of General Atlantic and Asia Opportunities in PNB Housing has notably reduced post-transaction.

In a significant market move, foreign investors General Atlantic and Asia Opportunities V (Mauritius) divested a 4.9 per cent stake in PNB Housing Finance, amounting to Rs 1,004 crore. The shares were offloaded through the National Stock Exchange (NSE) in open market transactions.

The US-based private equity firm General Atlantic, via its affiliate General Atlantic Singapore Fund FII Pte, conducted the bulk sale alongside Asia Opportunities. Both entities sold a combined total of over 1.27 crore shares, with individual shares priced in the range of Rs 786.46 to Rs 787.88. This culminated in a transaction value of Rs 1,004.28 crore.

Following the sales, the stake of Asia Opportunities in PNB Housing Finance declined to 7.43 per cent from 9.88 per cent, while General Atlantic's holding decreased to 7.37 per cent from 9.82 per cent. Concurrently, financial services firms BNP Paribas and Morgan Stanley acquired substantial shares of PNB Housing Finance, totaling Rs 404.10 crore in value.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)